Word: six-months
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...Michael Stewart passes the responsibility for administering the Prime Minister's severe economic measures, which call for a complete standstill in prices, wages and dividends for six months, followed by another six-month period of "great restraint." An unflappable administrator, Stewart is expected to handle the economic czardom with more zeal than Brown could have mustered for measures that go against his grain. He will also get along better with Chancellor of the Exchequer James Callaghan, who frequently clashed with Brown on economic policy...
What bothered Britons was Wilson's drastic program to rescue the pound: the six-month freeze on wages, prices and dividends, to be followed by another six months of "restraint." His plan angered almost everyone, from 23,000 doctors on Britain's health plan, who were required to forgo a 15% salary increase, to the 25,000-member civil service union, whose newspaper called Wilson's measures "a monstrous breach of faith." The powerful Trades Union Congress reluctantly agreed to continue to support Wilson's wage policy, but discontent is so great within its member unions...
...final reports trickled in, U.S. magazine publishers totted up their best half-year profits ever. For the first time since 1961, Curtis Publishing reported a six-month net profit of $368,000; ad revenues were up 18% on the Saturday Evening Post, 20% on the Ladies' Home Journal, and 40% on American Home. Time Inc. continued to pace the industry with a record net income of $17,730,000, up $4,095,000 from the same period in 1965. McGraw-Hill Inc. was in second place, with a net income...
...gone as high as 6.51% in Houston, 6.55% in San Francisco and 6.6% in Atlanta. June housing starts were down 18% from a year ago. Building permits, which give an indication of what is to come, are down 25% . F. W. Dodge Co., surveying six-month activity in the construction industry, re ported that while total building is up 8% over the first six months of 1965, residential building has dropped 1 % be cause of "the mortgage gap." This year, predicted Dodge, 1,425,000 private, nonfarm homes will be built, a drop of 100,000 from earlier estimates...
There was cause for concern. The Bureau of Labor Statistics reported the swiftest six-month cost-of-living increase since 1958. Capped by a gain of 0.3% for June, the consumer price index climbed 1.7% in the first half of the year to 112.9% of the 1957-59 average. For the twelve months ending in June, the rise was a hefty 21% . Industrial production and personal income also climbed to record levels in June...